Official Rules for the 2019 NC Assist "$5,000 Summer Funds for College Giveaway" Sweepstakes

Please read the rules carefully. Complete your sweepstakes entry only after reading all rules.


OFFICIAL RULES
No purchase necessary. Void where prohibited.

The 2019 NC Assist "$5,000 Summer Funds for College Giveaway" Sweepstakes is a giveaway in which one (1) entrant will be awarded $5,000 (the "Prize") through a random drawing (the Drawing"). The Prize will be awarded in the form of a $5,000 contribution to an NC 529 Plan Account owned, or to be opened, by the entrant whose name is drawn ("NC 529 Account" or "Account"), to be used for higher education.

A random drawing from the pool of all entrants' names will determine the winner of the $5,000 Prize.


Sponsor
The Drawing is sponsored by College Foundation, Inc. ("CFI" or "Sponsor"), a North Carolina non-profit corporation that is tax exempt under Section 501(c)(3) of the Internal Revenue Code. The Prize is funded by the North Carolina State Education Assistance Authority (the "Authority"). The NC Assist Loan Program and the NC 529 Plan are established and maintained by the Authority and administered by CFI. These entities are collectively referred to as "Drawing Parties."


Eligibility
Open to entrants who meet the following criteria and who are not employees, officers, directors or any other agents of Drawing Parties or any immediate family members (spouse, parents, children and siblings) of these employees, officers, directors or other agents of Drawing Parties.

  • Student, or a Parent of a Student, aged 18 years old or older;
  • Either:
    • A resident of North Carolina who is a student, or a parent of a student, who will attend a college or university within or outside North Carolina in the Fall of 2019 or Spring of 2020 as a new or continuing student,
      or
    • A resident of another state who is a student, or parent of student, who will attend a college or university in North Carolina in the Fall of 2019 or Spring of 2020 as a new or continuing student;
  • Have a valid U.S. Tax Identification Number for both a Participant and a Beneficiary of an NC 529 Plan account; and
  • Fully complete and submit the entry form as described below.

By participating in the Drawing, each entrant agrees to be bound by these Official Rules and the Drawing Parties' decisions.


To Enter
To enter the 2019 NC Assist "$5,000 Summer Funds for College Giveaway" Sweepstakes, entrants click the Drawing announcement on the NCAssist.org home page for more information on the rules and procedure to enter.

Entrants may enter the Drawing online at NCAssist.org/giveaway and fully complete and submit the entry form on the website. All required fields must be completed; incomplete entry forms are not valid for entry into the Drawing. Any attempt to obtain more than one entry by using different or multiple email addresses, identities, log-ins, automatic entry software, or any other method is prohibited and may result in disqualification. No copies, automated entries (including, but not limited to, entries made using any script, macro, or sweepstakes service), facsimiles, or mechanical reproductions will be accepted. In the event of a dispute over the identity of an entrant, entry will be deemed submitted by the authorized account holder of the email account of the email address submitted at time of entry. "Authorized account holder" is defined as the natural person who is assigned to an email address by an Internet access provider, online service provider, or other organization (e.g., business, educational institution, etc.) that is responsible for assigning email addresses for the domain associated with the submitted email address.

Prospective entrants may also enter the giveaway by mailing a letter to the attention of Attn: 2019 NC Assist "$5,000 Summer Funds for College Giveaway" Sweepstakes to NC Assist Loan Program, P.O. Box 41977, Raleigh, NC 27629-1977. The letter must include the following information from the entrant (1) the request to enter the 2019 NC Assist "$5,000 Summer Funds for College Giveaway" Sweepstakes, (2) First and Last Name, (3) Email address, (4) Phone Number, (5) Whether entrant is a Parent or Student, (6) Certification that the entrant is at least 18 years old, (7) Certification that the entrant is either: a resident of North Carolina who is a student, or a parent of a student, who will attend a college or university within or outside North Carolina in the Fall of 2019 or Spring of 2020, or a resident of another state who is a student, or parent of student, who will attend a college or university in North Carolina in the Fall of 2019 or Spring of 2020; (8) How the entrant heard about the NC Assist Loan Program or this Drawing.


Promotion Period
Online or paper entries will be accepted from June 1, 2019 through midnight Eastern Standard Time ("EST") on July 31, 2019 and must be received by CFI between these dates. An entrant may only enter the Drawing one time.


Odds
Odds to win depend on the number of eligible entries received.


Winner Selection
A random drawing will be held on or about August 5, 2019 to determine the Prize winner and 2 alternates (in first and second order). On or about August 5, 2019, the winner will be notified using the contact information provided in his or her entry. Upon notification, the winner will have:

  • Two (2) business days to respond to CFI by email or phone to accept the Prize.
  • If the winner does not respond to CFI by 5:00 p.m. Eastern on the second business day after notification from CFI, then the first alternate will be contacted and will have two (2) business days to respond to CFI to accept the prize (by 5:00 p.m. Eastern on the second business day after notification from CFI).
  • If neither the winner nor the alternate(s) for the Prize responds within the time requested, CFI, at its sole discretion, will decide whether to hold a new drawing for that Prize at a later date or to cancel.

Before a Prize can be awarded, its winner must:

  • Open a new or have an existing account in the NC 529 Plan with a designated Beneficiary for whom the Prize will be used for higher education and have provided direction to the Program Administrator on allocating the Prize to Investment Options selected by the Account owner.
  • Sign a full and complete release and indemnity agreement enabling the Drawing Parties to reprint, distribute, and/or use the winner's name, photograph, and other information related to his or her eligibility, educational plans for the student and NC 529 Plan Account Beneficiary, or other relevant personal information provided by the winner in any press releases, on websites operated by the NC Assist Loan Program, NC 529 Plan, or CFNC, on social media accounts, and in advertisements, promotions and promotional materials without any recourse against such Drawing Parties, and each winner must agree to hold such Drawing Parties harmless for such use.

The name of the winner of the Drawing may be posted on the NC Assist home page at NCAssist.org and on the NC Assist Facebook page and other social media accounts operated by the Drawing Parties on or about August 5, 2019. To obtain the winner's name in print, you may send a self-addressed, stamped envelope marked Attn: 2019 NC Assist "$5,000 Summer Funds for College Giveaway" Sweepstakes to NC Assist Loan Program, P.O. Box 41977, Raleigh, NC 27629-1977. Requests must be received by Sponsor by August 30, 2019.


Prize
A $5,000 Prize will be awarded to an entrant through a random drawing, and will be deposited into the NC 529 Account of the winner within a week after the winner opens the NC 529 Account or notifies CFI of his/her existing NC 529 Account. The odds of winning depend on the total number of names entered in the Drawing.

  • The Prize will be awarded in the form of a $5,000 contribution to a new or an existing NC 529 Account owned by the entrant whose name is drawn. The contribution must be contributed to a 529 account in the NC 529 Plan, also known as North Carolina's National College Savings Program.
  • The winner's Prize will be contributed and allocated according to winner's current Investment Option allocation instructions on file.
  • After deposit of the $5,000 Prize into an existing NC 529 Account, further contributions to that Account are the Account owner's personal decision and responsibility. Funds withdrawn from the NC 529 Account that are used for the Beneficiary's tuition and fees associated with qualified higher education expenses at an eligible institution will be considered qualified withdrawals.
  • The earnings portion of a non-qualified withdrawal is subject to the additional federal income tax of 10% and, potentially, state income tax. The Program Administrator also may impose a $50 transaction fee on Non-Qualified Withdrawals.
  • The Prize may be considered income to the winner, and any taxes resulting from the receipt of the Prize are the responsibility of the winner. Winners are fully responsible for all applicable federal and state taxes and any other fees that may occur. Winners are advised to consult with an attorney or tax advisor regarding tax or personal financial implications of accepting the Prize.
  • Funds in a 529 account may have an impact on the Beneficiary's eligibility for financial aid.
  • NC 529 Accounts and the funds therein are governed by the Program Description and the accompanying Enrollment and Participation Agreement. NC 529 Accounts themselves are not bank or credit union deposits and are not insured by the Federal Deposit Insurance Corporation or the National Credit Union Administration. Neither the Contributions nor the earnings thereon invested in Accounts are backed by the full faith and credit of the State of North Carolina or guaranteed by the State Education Assistance Authority, College Foundation, Inc., State Employees' Credit Union, or The Vanguard Group, Inc. Notwithstanding the foregoing, contributions and interest earned thereon invested in the Federally-Insured Deposit Account Investment Option are guaranteed by State Employees' Credit Union and insured by the National Credit Union Administration, which is backed by the full faith and credit of the United States Government, up to the applicable federal share insurance limits. The value of a Participant's Account will fluctuate depending on market conditions and the performance of the Investment Options selected. Account owners could lose money, including the Prize money, by investing in the NC 529 Plan.

Privacy Policy and Data Submitted
Any information you submit is subject to the Drawing Parties' privacy policies available at www.cfnc.org/global/privacy_policy.jsp.


Limitations of Liability and Release
Neither Drawing Parties nor their respective employees, officers, directors or other agents shall be liable for any injury, damage, or loss related to or resulting from entering or winning the 2019 NC Assist "$5,000 Summer Funds for College Giveaway" Sweepstakes. By entering the Drawing, entrants release and hold Drawing Parties and their respective employees, officers, directors or other agents harmless from any and all damages and claims of any kind in connection with the Drawing or resulting from acceptance, possession or use of any prize. By participating in the 2019 NC Assist "$5,000 Summer Funds for College Giveaway" Sweepstakes, entrant releases Drawing Parties from any and all claims, damages or liabilities arising from or relating to such entrant's participation in the Drawing. By accepting the Prize in the Drawing, winner agrees that Drawing Parties shall not be liable for any injury, damage, or loss resulting from participation in the Drawing, acceptance, or use of the prize.
This promotion is in no way sponsored, endorsed, administered by, or associated with, Facebook.


General
Drawing Parties reserve the right at their sole discretion to cancel, terminate, modify or suspend the Drawing for technical, financial, or other business reasons without prior notice. The Drawing is subject to all applicable federal, state and local laws and regulations. This offer is void where prohibited by law.